Russia to give good concession in customs duty on Pak products

ISLAMABAD: Minister for Commerce Syed Naveed Qamar on Friday, on the sidelines of Russia-Islamic World Economic Forum, witnessed the signing of a protocol related to the customs cooperation between Pakistan’s Ministry of Commerce and Federal Customs Services of Russian Federation.The protocol covers administrative cooperation and information exchange under the unified Tariff Preferences of Eurasian Economic Union. The landmark protocol is an important step towards building legal framework required for developing commercial relations between Pakistan and Russia. Besides ensuring easy flow of goods, it will also provide significant concession in customs duty on Pakistani products entering Russian market. The commerce minister is visiting Kazan to represent Pakistan at the 14th Russia-Islamic World Economic Forum that was held between May 17 and 19, 2023. He held wide ranging discussions with HE Rustam Minnikhanov, Rais (Head) of Russain Republic of Tatarstan. The two dignitaries exchanged views on expanding economic relations between Pakistan and Russian Federation with special focus on Tatarstan. Commerce Minister Syed Naveed Qamar earlier met UAE’s Minister of State for Foreign Trade Dr Thani Al Zeyoudi and Afghan trade minister. He also interacted with prominent business leaders attending the Forum. This is the first time Pakistan has participated in this important Economic Forum at the ministerial level and shows Pakistan’s commitment to deepen its economic engagement and relations with the Russian Federation and its Republic of Tatarstan.